FinancingGeneralMEDIUM
Alabama is a:
Correct Answer
A) Title theory state
Alabama is a title theory state where the lender holds legal title until the loan is paid.
Answer Options
A
Title theory stateB
Lien theory stateC
Intermediate theory stateD
Deed of trust stateVideo Explanation2 min
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Related Topics & Key Terms
Related Topics:
foreclosure-processesmortgage-instrumentsproperty-rights
Key Terms:
title theory stateAlabama mortgage lawlegal titleequitable titlemortgagee
Related Concepts
In the context of foreclosure, a deed transfers ownership of the foreclosed property to the new owner, typically the buyer at a foreclosure sale.
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